property auction
Bidding for buildings
A property auction is a public sale where real estate is sold to the highest bidder.
Properties sold at auction often include foreclosures, estate sales, or distressed properties that need quick liquidation.
Bidding may happen in person, online, or by phone: We picked up the farmhouse at a property auction for half its market value.
- bidderOne who makes offers
- auctioneerConducts public sales
- reserve priceMinimum acceptable bid
- fair market valueObjective exchange price
- condominiumOwned unit, shared grounds
foreclosure · buyer · contract of sale · trustee · bidding war · distressed · courthouse · appraiser · sight unseen · quick sale · gavel · tax implications · seller · zoning regulations · escrow account · hammer price · real estate agent · lot
- property transfersland sale, title transfer, home sale, inheritance, conveyance
- debt collectiondebt collection, garnishment, late payments, debt collector, delinquent accounts
- liquidationsliquidation, fire sale, closeout, forced sale, bankruptcy sale
- tax enforcementtax audit, tax lien, tax collection, tax sale, tax levy
- bankruptcybankruptcy, bankruptcy court, Chapter 11, Chapter 7, bankruptcy petition
- forced salesforeclosure sale, sheriff's sale, tax sale, forced sale, seizure